Shares of TCS, Infosys, Wipro and other major tech giants rose on Thursday, ahead of the release of Accenture's financial results. The IT consulting firm raised its full-year revenue growth guidance to 25.5-26.5 percent.
TCS, Infosys and Wipro shares closed 1-3 percent higher.
| Stock/index | Change (%) |
| Nifty IT | 2 |
| Coforge | 5.3 |
| Mindtree | 4.6 |
| LTI | 2.9 |
| LTTS | 2.3 |
| HCL Tech | 1.4 |
| Tech Mahindra | 1.2 |
| Mphasis | 1.1 |
The upwards revision in guidance comes at a time when Indian IT companies — including the likes of TCS, Wipro, Infosys, HCL Technologies and Tech Mahindra — are struggling against shrinking margin despite healthy demand.
In March, Accenture had adjusted its revenue growth guidance to 24-26 percent on a year-on-year basis in the second quarter of its financial year from 19-22 percent.
| Company | Revenue growth guidance (%) | Period |
| Infosys | 13-15 | 2022-23 |
| HCL Tech | 12-14 | 2022-23 |
| Wipro | 1-3 | Apr-June 2022 |
Accenture — which follows a September-August cycle of financial year — continues to expect operating margin of 15.2 percent. It also declared a dividend of $0.97 per share, up 10 percent from the corresponding period a year ago.
(Edited by : Sandeep Singh)
First Published: IST